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AI Analysis of ED
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Consolidated Edison Inc stock downgraded from Buy Candidate to Hold/Accumulate after Friday trading session.
(Updated on May 03, 2024)

Buy or Hold candidate since Apr 17, 2024 Gain 5.79% PDF

The Consolidated Edison Inc stock price gained 0.325% on the last trading day (Friday, 3rd May 2024), rising from $95.25 to $95.56. It has now gained 5 days in a row. It will be exciting to see whether it manages to continue gaining or take a minor break for the next few days. During the last trading day the stock fluctuated 1.88% from a day low at $94.97 to a day high of $96.76. The price has risen in 9 of the last 10 days and is up by 4.13% over the past 2 weeks. Volume has increased on the last day along with the price, which is a positive technical sign, and, in total, 487 thousand more shares were traded than the day before. In total, 2 million shares were bought and sold for approximately $230.41 million.

The stock has broken the weak rising the short-term trend up and an even stronger rate of rising is indicated. For any reaction back there will now be support on the roof on the current trend broken at $94.16, a level that may pose a second chance to hit a runner. According to fan-theory $99.74 will be the next possible trend-top level and thereby pose a resistance level that may not be broken at the first attempt.

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ED Signals & Forecast

The Consolidated Edison Inc stock holds buy signals from both short and long-term Moving Averages giving a positive forecast for the stock. Also, there is a general buy signal from the relation between the two signals where the short-term average is above the long-term average. On corrections down, there will be some support from the lines at $94.43 and $90.83. A breakdown below any of these levels will issue sell signals. A buy signal was issued from a pivot bottom point on Tuesday, April 16, 2024, and so far it has risen 9.31%. Further rise is indicated until a new top pivot has been found. Furthermore, there is a buy signal from the 3 month Moving Average Convergence Divergence (MACD). Volume is rising along with the price. This is considered to be a good technical signal.

Sell
Special Signal Notification

Double Top Formation

Double Top Formation

Support, Risk & Stop-loss for Consolidated Edison Inc stock

On the downside, the stock finds support just below today's level from accumulated volume at $90.33 and $88.94. There is a natural risk involved when a stock is testing a support level, since if this is broken, the stock then may fall to the next support level. In this case, Consolidated Edison Inc finds support just below today's level at $90.33. If this is broken, then the next support from accumulated volume will be at $88.94 and $86.67.

This stock has average movements during the day and with good trading volume, the risk is considered to be medium. During the last day, the stock moved $1.79 between high and low, or 1.88%. For the last week, the stock has had daily average volatility of 1.61%.

Our recommended stop-loss: $91.55 (-4.20%) (This stock has medium daily movements and this gives medium risk. There is a buy signal from a pivot bottom found 13 days ago.)

Trading Expectations (ED) For The Upcoming Trading Day Of Monday 6th

For the upcoming trading day on Monday, 6th we expect Consolidated Edison Inc to open at $95.76, and during the day (based on 14 day Average True Range), to move between $93.97 and $97.15, which gives a possible trading interval of +/-$1.59 (+/-1.67%) up or down from last closing price. If Consolidated Edison Inc takes out the full calculated possible swing range there will be an estimated 3.33% move between the lowest and the highest trading price during the day.

With no resistance above and support from accumulated volume @ $90.33, some $5.23 (5.47%) from the current price of $95.56, our system finds the risk reward attractive.

Is Consolidated Edison Inc stock A Buy?

Consolidated Edison Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

Current score: 0.000 Hold/Accumulate Downgraded

Zero in score indicates that our system is expecting high volatility and risk for the following trading day. Given the latest developments, we cannot determine the next direction as it may go both ways.

Predicted Opening Price for Consolidated Edison Inc of Monday, May 6, 2024

Fair opening price May 6, 2024 Current price
$95.76 ( 0.213%) $95.56

The predicted opening price is based on yesterday's movements between high, low, and closing price.

Trading levels for ED

Fibonacci Support & Resistance Levels

Level Price
Resistance R3 97.55 2.09 %
R2 96.87 1.37 %
R1 96.45 0.93 %
Current price: 95.56
Support S1 95.08 -0.503 %
S2 94.66 -0.94 %
S3 93.97 -1.66 %

Accumulated Volume Support & Resistance Levels

Level Price
Resistance R3 0 .
R2 0 .
R1 0 .
Current price 95.56
Support S1 90.33 -5.47%
S2 88.94 -6.93%
S3 86.67 -9.30%

ED Dividend Payout History


# Declaration Date Ex-Date Pay Date Amount Yield
1 Apr 18, 2024 May 14, 2024 Jun 14, 2024 $0.83 0.87%
2 Jan 18, 2024 Feb 13, 2024 Mar 15, 2024 $0.83 0.93%
3 Oct 19, 2023 Nov 14, 2023 Dec 15, 2023 $0.81 0.90%
4 Jul 20, 2023 Aug 15, 2023 Sep 15, 2023 $0.81 0.89%
5 Apr 20, 2023 May 16, 2023 Sep 15, 2023 $0.81 0.89%

FAQ

What is the symbol for Consolidated Edison Inc Stock and on which exchange is it traded?
The symbol for Consolidated Edison Inc is ED and it is traded on the NYSE (New York Stock Exchange).

Should I buy or sell Consolidated Edison Inc Stock?
Consolidated Edison Inc holds several positive signals, but we still don't find these to be enough for a buy candidate. At the current level, it should be considered as a hold candidate (hold or accumulate) in this position whilst awaiting further development. Due to some small weaknesses in the technical picture we have downgraded our analysis conclusion for this stock since the last evaluation from a Buy to a Hold/Accumulate candidate.

How to buy Consolidated Edison Inc Stock?
Consolidated Edison Inc Stock can be purchased through just about any brokerage firm, including online brokerage services.
Click here for our free guide on how to buy Consolidated Edison Inc Stock.

What's the current price of Consolidated Edison Inc Stock?
As of the end of day on the May 03, 2024, the price of an Consolidated Edison Inc (ED) share was $95.56.

What is the 52-week high and low for Consolidated Edison Inc Stock?
The 52-week high for Consolidated Edison Inc Stock is $100.44 and the 52-week low is $80.46.

What is the market capitalization of Consolidated Edison Inc Stock?
As of the May 03, 2024, the market capitalization of Consolidated Edison Inc is 33.017B.

When is the next earnings date for Consolidated Edison Inc?
The upcoming earnings date for Consolidated Edison Inc is Aug 01, 2024.
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About Consolidated Edison Inc

Consolidated Edison Consolidated Edison, Inc., through its subsidiaries, engages in the regulated electric, gas, and steam delivery businesses in the United States. It offers electric services to approximately 3.5 million customers in New York City and Westchester County; gas to approximately 1.1 million customers in Manhattan, the Bronx, parts of Queens, and Westchester County; and steam to approximately 1,555 customers in parts of Manhattan. The company also suppl... ED Profile

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